The Common Core State Standards will soon be driving instruction in forty-five states and the District of Columbia.

While the standards are high quality, getting their implementation right is a real challenge—and it won't be free, a serious concern given the tight budgets of many districts and states.But while critics have warned of a hefty price tag, the reality is more complicated.

Yes, some states may end up spending a lot of money. But there are also opportunities for significant savings if states, districts and schools use this occasion to rethink their approach to test administration, instructional materials and training for teachers. The key is that states have options, and implementation doesn't need to look (or cost) the same everywhere.

States could approach implementation in myriad ways. Here are three:

• One, stick to "Business as usual" and use traditional tools like textbooks, paper tests, and in-person training. These tools are very familiar in today's education system, but they can come with reasonably high price tags.• Two, go with only the "bare bones" of what's necessary: Experiment with open-source materials, computerized assessments, and online professional development in ways that provide the bare bones of more traditional, in-person approaches. This could save major coin, but could require more technology investment and capacity for some states.• Or, three, find a middle ground through "balanced implementation" of both strategies, which offers some of the benefits—and downsides—of each model.

But how much money are we talking? Take Florida:

If Florida sticks to business as usual, it could spend $780 million implementing the Common Core. Under the bare bones approach, the tab could be only $183 million. A blend of the two? $318 million.

But that's the total cost; don't forget states are already spending billions of dollars each year on textbooks, tests, curricula, and other expenses. Look at it that way and the sticker shock wears off: The estimated net cost of putting the Common Core in place in the Sunshine State, for example, ranges from $530 million to roughly $67 million less than what we estimate that they are spending now.

Each implementation approach has its merits—and drawbacks—but states and districts do have options for smartly adopting the Common Core without breaking the bank. Further, they could use this opportunity to create efficiencies via cross-state collaborations and other innovations.

To learn more, download "Putting a Price Tag on the Common Core: How Much Will Smart Implementation Cost?"